Abstract
This study examines the impact of corporate governance reforms (SECP code in Pakistan) on board structural characteristics, board roles and firm performance. It uses an exclusive balanced panel data set of 200 companies listed on Karachi Stock Exchange. The study contributes to a sparse empirical literature on boards using data from Pakistan via multi-theoretic perspective to prove that if the boards’ monitoring and resource provision roles are strengthened through board restructuring, the financial performance of the organization will be strengthened. The main findings of the study indicate that the mediated relationship between board structural variables and firm performance is stronger. The study concludes that overall companies adopted a box-ticking approach for reporting corporate governance.
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